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Auto Sector Crisis: 2.30 Lakh Jobs Lost As Industry Faces Worst Crisis In 20 Years

Discussion in 'General Discussions' started by armummy, Aug 13, 2019.

  1. nemesis

    nemesis Platinum IL'ite

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    This is the air quality map of India, live(aqicn.org).

    Daytime/office hours, the numbers would be almost 50% high. During winters, it gets worse(in North). 50 is the safe level. None of our cities qualify to have healthy air - Mumbai during monsoon season benefits from strong west winds and hence better.

    It's not the government, who is hand in glove with the manufacturers but the honorable Supreme Court of India which ordered the sale of only least polluting Euro 6 / BS6 vehicles in this country from april 1, 2020.

    They now have to give a huge discount to clear existing stock; yet they aren't and are betting on the festival season, Let's see who blinks first.
     

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  2. armummy

    armummy Platinum IL'ite

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    Good point ..... the companies knew this last year and this is not a new thing.They had to deal with similar stuff earlier when they moved to better emission standards and get rid of stocks quickly.

    It is not as though the older vehicles with less emission standards are taken off road .. they will still ply so for most consumers some discount will help although I am not sure if any discounts are already on offer.

    plus another factor to think is likely increase in price for BS6 or Euro 6 which again will hit the industry hard .

    I guess GST ultimately is paid by buyers only in most cases ... so it immediately puts a red flag as the cost of the car goes up by so much percent ... so it may be good for govt to take note of this too and do something from their side

    Steep GST has been a deterrent for me when I was thinking of a transaction not CAR related ...so I stayed put and did not do anything about it
     
  3. Thyagarajan

    Thyagarajan Finest Post Winner

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    :hello:HAP HAP HAPPY BIRTHDAY INDIA
    BHARAT MATHA KI JAI.
     
  4. nemesis

    nemesis Platinum IL'ite

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    Cost of car, as well as the upkeep.

    Fuel+insurance+service+paying for the daily wash+parking space.

    It's the same as apartments now, everyone got 1 to live, and 1 as investment (which is paying a ridiculously low rent for the flat value, lol) so why buy more cars? We have our main roads, either side of residential roads all filled with cars and the average speed coming down and who would want to buy one more, even if the income allows?
     
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  5. armummy

    armummy Platinum IL'ite

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    This has always been the case not a new one ..and the problem is not created by repeat buyers but may be because of lack of enthusiasm or resources from
    New buyers.every year we have new people stepping into work life , getting married , having children , those are the ones who become potential customers .... that I don’t thing have changed .... yes lack of jobs will be a problem ....

    The issue is not so simple I believe ... there could be many reason which as a person who is not an economist or from the industry would know ... so it
    May be prudent for govt to study all aspects of it and take corrective actions .... otherwise a scary scenario ... looking at a prediction 10 lakh jobs going away ...
     
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  6. armummy

    armummy Platinum IL'ite

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    Happy Independence Day to you and everybody
     
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  7. armummy

    armummy Platinum IL'ite

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    After auto ... textile is down but this happening for some time now with bang aka death gaining the business which is lost in India ...

    Now parle biscuits laying off 10000 people due to low demand and high gst
     
  8. Dhamini

    Dhamini Platinum IL'ite

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  9. armummy

    armummy Platinum IL'ite

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  10. nemesis

    nemesis Platinum IL'ite

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    This job rhetoric should stop. Jobs don't happen just like that. Creating/sustaining an industry for the jobs has only led to large government organizations gobbling up thousands of crores of taxpayers money - BSNL, MTNL, Air India, etc.

    The real cause of this slowdown is that everyone got greedy exploiting the IT folks - it is their spending that led to the growth of construction, consumption, govt taxes. As long as the salaries kept multiplying, they were happy to spend. Construction mafias made crores while giving sub-standard villas and 'premium flats'. Now that IT is just sustaining instead of multiplying and IT employees started to rationalize their spending patterns, everyone who 'exploited' them (remember, it is 30% tax bracket and there's no way a salaried person can avoid tax, but those benefiting through business end up as NIL tax payer somehow through cooking of the books) and went splurging on irrational spending are now facing the pinch.

    Also note, we transitioned from spending out of savings into credit based spending, and when a tightening of the purse occurs, those with unsound financial practices will face the pinch.

    GST: everyone now have to do business in white - which is a tough thing for the 'chalta hai' business culture, because parallel economy(read: black economy, ie, spending of bribe/unaccounted/unreported profits)is a big thing. It's now a 'who blinks first' between spenders and tax hawks.

    The salaried class is already paying a lot of taxes - income and indirect. GST is a right step to include the 'hidden' wealthy people. No wonder everyone, including parleG biscuit maker is now whining about GST.

    At the end of the day, GST is paid by us consumers!

    Such is the state of affairs.
     
    Last edited: Aug 22, 2019 at 6:49 AM

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